Citic Ltd wins auction for HK$1.5 bln residential site in Hong Kong

May 13, 2015 9:37 AM

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HONG KONG May 13 A unit of conglomerate CITIC Ltd, formerly known as Citic Pacific, won an auction for a residential site worth HK$1.5 billion ($193.48 million) in Hong Kong, the government said on Wednesday.

CITIC Ltd outbid 18 other developers, including Sun Hung Kai Properties and CK Hutchison Holdings, to build residential buildings in the Sha Tin area of the New Territories.